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Harsh

Harsh Bharwani  |55 Answers  |Ask -

Entrepreneurship Expert - Answered on Oct 19, 2023

Harsh Bharwani is a fourth generation entrepreneur.
As CEO and managing director, he leads the international business and employability initiatives at the computer networking institute, Jetking Infotrain Limited.
After graduating from Delhi University, Bharwani joined the family business in 2010 and set up operations in the US and Vietnam.
He has trained over three lakh students in employability, confidence and key life skills.... more
Rajesh Question by Rajesh on Sep 09, 2023Translate
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Career

Currently into kurti manufacturing which is not going fine. M 43 now. Wish to start stock broking franchise. Kindly suggest

Ans: To establish your sub-broker franchise in India, you must partner with a reputable stock brokerage company. Your role involves promoting and selling the company's financial products to clients.
To begin this venture, you must be a SEBI-registered subbroker and have completed the necessary examinations. Required documentation includes address proof, identity proof, educational certificates, and any mandatory initial payments such as initial deposits, registration fees, and security amounts which are refundable.
Sub-broker opportunities are open to various individuals, including students, working professionals, retirees, and homemakers. Understanding how the stock market operates and different investment options is essential.
To become a sub-broker, you must meet specific sub-broker eligibility criteria:
Completion of senior school education
Minimum age of 21
SEBI-authorized registration form
Education documents
National Institute of Securities Markets (NISM) Certification
Professional stock market experience certificate (if applicable)
A broker’s primary role is to help investors achieve favourable returns by introducing them to various investment products and the broker’s investment opportunities. brokers operate based on the agreement between them and the broker.
A sub-broker works on behalf of a stockbroker and connects clients to the stockbroker's services. They assist clients with paperwork, payments, and investment decisions.
Operates under the registration of the stockbroker they are affiliated with.
Acts as a bridge between clients and the stockbroker, assisting clients and directing queries to the stockbroker when necessary.
Career

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I'm contemplating a career change in my late 30s, earning Rs 14 lakhs annually. How can I navigate this transition while ensuring financial stability and working towards long-term goals such as retirement?
Ans: Transitioning to a new career in your late 30s while maintaining financial stability and planning for long-term goals like retirement requires careful consideration and planning. Here are some steps you can take to navigate this transition effectively:

1. Assess Your Skills and Interests: Reflect on your skills, interests, and values to identify potential new career paths that align with your strengths and passions. Consider seeking career counseling or taking career assessment tests to explore different options.

2. Research Potential Careers: Conduct thorough research on the industries and roles you're interested in pursuing. Look into job market demand, salary potential, and growth opportunities to ensure your chosen career path is financially viable.

3. Skill Development and Education: Determine if you need to acquire new skills or education to transition into your desired field. This could involve enrolling in courses, obtaining certifications, or pursuing higher education such as a degree or specialised training programme.

4. Financial Planning: Evaluate your current financial situation and create a budget to understand your income, expenses, and savings. Factor in any potential changes in income or expenses associated with your career transition. Consider setting aside an emergency fund to cover unexpected expenses.

5. Debt Management: If you have any outstanding debts, develop a plan to manage and pay them off efficiently. Prioritise high-interest debts like credit card debt while maintaining minimum payments on other loans.

6. Retirement Planning: Review your retirement savings accounts like the EPF, and assess whether you're on track to meet your long-term retirement goals. Consider consulting a financial advisor to develop a personalised retirement plan based on your age, income, risk tolerance, and retirement objectives.

7. Health Insurance and Benefits: Evaluate the health insurance and other benefits offered by your new employer, if applicable. Ensure you understand the coverage provided and any associated costs. If transitioning to self-employment or freelancing, research options for obtaining health insurance coverage independently.

8. Networking and Building Connections: Network with professionals in your desired industry to gain insights, advice, and potential job opportunities. Attend industry events, join professional associations, and leverage online networking platforms like LinkedIn to expand your network.

9. Side Hustle or Freelancing: Consider starting a side hustle or freelancing in your desired field while maintaining your current job. This can provide additional income, valuable experience, and a smoother transition into your new career.

10. Evaluate Risks and Rewards: Assess the risks and rewards associated with your career change, including potential income fluctuations, job stability, and work-life balance. Be prepared to adapt and make adjustments as needed throughout the transition process.

By following these steps and carefully planning your career transition, you can navigate the change while maintaining financial stability and working towards your long-term goals, including retirement.
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Dr Karthiyayini

Dr Karthiyayini Mahadevan  |599 Answers  |Ask -

General Physician - Answered on Mar 03, 2024

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